Related to the Economics in Practice on p. 25: Based on the increase in the number of women in the labor force over the past 50 years, the opportunity cost of preparing a home-cooked meal
A) decreased.
B) increased.
C) remained constant.
D) dropped to zero.

Question

Quizplus · Accepted Answer

As the number of women in the labor force has increased, the opportunity cost of preparing a home-cooked meal has increased as well. This is because women now have more options for how they spend their time, including working outside the home. Therefore, the opportunity cost of choosing to prepare a home-cooked meal (i.e. forgoing the potential income from working outside the home) has increased.

Related to the Economics in Practice on P